Fed’s tough stance on inflation triggers XAUUSD sell-off
XAUUSD prices remain under pressure near the 4,425 USD support level following hawkish comments from the Federal Reserve chairman. Quotes currently stand at 4,436 USD.
Technical outlook
XAUUSD prices are falling after breaking below the lower boundary of the bullish channel, with sellers gaining a foothold below the EMA-65. Today’s XAUUSD forecast suggests a further decline towards 4,215 USD.
The current decline in XAUUSD has been driven by investors reassessing Federal Reserve interest rate expectations in response to Kevin Warsh’s hawkish rhetoric.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
EURUSD resumes decline after failed recovery attempt
The EURUSD pair is moving lower amid a sharp rise in oil prices caused by the conflict in the Middle East, with the rate currently at 1.1603.
Technical outlook
The EURUSD pair is declining after rebounding from the EMA-65, with selling pressure increasing. Today’s EURUSD forecast suggests renewed downward momentum towards the 1.1545 target.
The current EURUSD decline is driven by Kevin Warsh’s hawkish rhetoric and inflation risks from rising oil prices.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
The XRPUSD price is falling, but institutional inflows and expectations of a regulatory breakthrough are keeping the asset from plummeting. The current quote is 1.3468.
Technical outlook
The XRPUSD price is declining within a Wedge reversal pattern. Despite selling pressure, a breakout above the pattern’s upper boundary could trigger price growth.
The current decline in XRP is temporary, as speculative pressure from token unlocks is being offset by institutional capital inflows.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
Gold (XAUUSD) rebounds, but outlook remains uncertain
Gold (XAUUSD) has recovered towards 4,410 USD, with lower bond yields and a weaker US dollar supporting precious metals.
Technical outlook
On the H4 chart, XAUUSD prices have begun to recover after a sharp decline from the 4,680–4,690 area and are now trading near 4,410. They rebounded from the 4,281 support level and returned within Bollinger Bands, but remain below the indicator’s middle line.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
EURUSD poised for another surge as markets await crucial NFP report
The euro continues to strengthen ahead of the Nonfarm Payrolls release, with the EURUSD rate currently standing at 1.1625.
Technical outlook
On the H4 chart, the EURUSD pair formed an Inverted Hammer reversal pattern near the lower Bollinger Band. At this stage, the price could continue its upward trajectory as the signal plays out, with the upside target at the 1.1700 resistance level.
The EURUSD forecast for 4 September favours the euro, which continues to strengthen amid expectations for the release of US employment data.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
Pressure on BTCUSD increases amid hawkish Federal Reserve expectations
BTCUSD is edging lower after failing to break above a key resistance level, coming under pressure from strong US employment data. The price currently stands at 79,492.
Technical outlook
The Bitcoin price is hovering below the key resistance level. If buyers fail to gain a foothold above this mark in the near term, the risk of a Double Top reversal pattern forming will increase.
The current decline in BTCUSD from the 81,920 USD resistance level is driven by strong US employment data.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
ETHUSD faces the risk of forming a reversal pattern
ETHUSD is trending lower towards the 2,365 USD support level, a breakout below which could trigger a cascade of long-position liquidations. The price currently stands at 2,472 USD.
Technical outlook
The ETHUSD price remains above the EMA-65, indicating continued buying pressure. However, bulls’ attempts to break above the 2,520 USD resistance level are currently encountering strong resistance from sellers.
The current decline in ETHUSD increases the risk of a Double Top reversal pattern forming.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
XRPUSD is recovering amid improving sentiment in the cryptocurrency market and continued institutional investor interest in XRP, with the price currently at 1.4378.
Technical outlook
XRPUSD is rising within an ascending channel, with buyers keeping prices above the EMA-65, indicating continued bullish strength. Today’s XRPUSD forecast suggests a rebound from the lower boundary of the ascending channel and further growth towards 1.4795.
The XRPUSD price maintains its bullish momentum, while buyers holding the 1.3905 support level increases the likelihood of further growth towards 1.4795.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
The SOLUSD rate is declining amid a drop in institutional inflows into spot ETFs, with the price currently at 101.17.
Technical outlook
The SOLUSD price has consolidated below the EMA-65, indicating easing buying pressure. The SOLUSD forecast for today suggests a further downward move towards 84.05 USD.
The current decline in the Solana price is driven by a sharp 96% drop in institutional demand.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
DOGEUSD is declining following news of the closure of the Bitwise Dogecoin ETF, with the price currently at 0.0837.
Technical outlook
The Dogecoin price is declining within a descending channel, with sellers holding resistance at 0.0845, indicating persistent bearish pressure. Today’s Dogecoin price forecast suggests a further decline towards the 0.0780 target.
Despite strong selling pressure following the closure of the Bitwise Dogecoin ETF, the 0.0810 support level is preventing a deeper sell-off.
Attention! Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
